Missing the Cheap Coins

[sir faps]

I recently slept through some extremely lucrative drops (and subsequent rises) in bitcoin price. This was due to the fact that all 3rd party apps on iPhones that would alert me of price changes have the same tri-tone sound when a notification goes through (not loud enough to wake me up). My solution was to get email alerts, set a filter in my gmail to send my phone an SMS when those emails were received, and lastly set the ringtone number that the SMS comes from to the most annoying ringtone I could imagine (Alarm under classic ringtones). Never shall I sleep through a bitcoin price drop again!!!!



That's my frustrating story on losing out on getting more cheap coins and my (hopeful) solution to the problem. Anyone have a similar issue?




*I put this in speculation because I think setting notifications are somewhat speculating on where you think the price may go in the future. Feel free to move this post if it is in the wrong section*

[theta]

How about placing a limit order in advance?

[sir faps]

How about placing a limit order in advance?

That's a good idea, but I have 2 problems with that:

1) I want to be conscious and watching the movements happen when I buy my coins. I don't like buying on the way down, I want to buy as close to the bottom as possible. I feel I have a better chance of doing that if I am creating the orders at the time of the movement.

2) I use coinbase, and am too lazy to send a bunch of info to set up an account with stamp

[Hfertig]

Just wait, you will see even cheaper coins in the near future. The bubble is deflating slowly... lots of time to get back in

[alison03]

Speaking of that, as a newbie, is bitstamp and btc-e the only two places where you can set an order? I also just use coinbase and was awake to watch the crash but never saw it happen there.

[billyjoeallen]

Just wait, you will see even cheaper coins in the near future. The bubble is deflating slowly... lots of time to get back in

Seriously doubt it. The traders with market orders in have taken major profits selling at over $700 and are just dying to buy more cheap coins. They'll settle for mid $600s or so and shoot it back up. Panics like that after two solid weeks of bad news are rare. The fact that the bounce was higher than the drop indicates a likely bottom of the bear market. I have seen bottoms several times and that is what they looked like.

[piramida]

1) I want to be conscious and watching the movements happen when I buy my coins. I don't like buying on the way down, I want to buy as close to the bottom as possible. I feel I have a better chance of doing that if I am creating the orders at the time of the movement.

No, that is a bad idea, and you won't buy close to the bottom, and you have worse chance if you trade while looking at the moving ticker. Because psychology kicks in. You get scared / excited etc, any emotion destroys your ability to think resulting in poor trades.

Trust me, setting orders beforehand and not fucking with them later is the only way to get profit.

And coinbase is not an exchange, in case you didn't notice yet. It is a wallet where you can buy coins, but you don't trade there.

[Opsamk]

1) I want to be conscious and watching the movements happen when I buy my coins. I don't like buying on the way down, I want to buy as close to the bottom as possible. I feel I have a better chance of doing that if I am creating the orders at the time of the movement.

No, that is a bad idea, and you won't buy close to the bottom, and you have worse chance if you trade while looking at the moving ticker. Because psychology kicks in. You get scared / excited etc, any emotion destroys your ability to think resulting in poor trades.

Trust me, setting orders beforehand and not fucking with them later is the only way to get profit.

And coinbase is not an exchange, in case you didn't notice yet. It is a wallet where you can buy coins, but you don't trade there.

You are a smart trader. I keep my trading window at around 3 days and don't let hourly movements bother me. When it's the right time to throw money in, you'll know, usually when the price becomes stagnant over a 3 or more day period. The same for the reverse if you are cashing out bitcoins, if the price becomes stagnant for a few weeks, you should probably cash out before a crash occurs. I've had no losses from my long-term trading strategy and made well over a couple g's.

[Cyberlight]

Just wait, you will see even cheaper coins in the near future. The bubble is deflating slowly... lots of time to get back in

Could you confirm that, you suck that out of your thumb

OP: even $ 1200 for a coin is very cheap

[raymo23]

You may missing some cheap coins, new coins are made everyday so you can predict and buy now at really low price.

[Hfertig]

Just wait, you will see even cheaper coins in the near future. The bubble is deflating slowly... lots of time to get back in

Could you confirm that, you suck that out of your thumb

OP: even $ 1200 for a coin is very cheap

Look at the charts....

[joehal]

There is an app (jailbreak) that let's you customise and select any kind of sound for any app notification. Maybe you can find an appstore solution as well.

[sir faps]

1) I want to be conscious and watching the movements happen when I buy my coins. I don't like buying on the way down, I want to buy as close to the bottom as possible. I feel I have a better chance of doing that if I am creating the orders at the time of the movement.

No, that is a bad idea, and you won't buy close to the bottom, and you have worse chance if you trade while looking at the moving ticker. Because psychology kicks in. You get scared / excited etc, any emotion destroys your ability to think resulting in poor trades.

Trust me, setting orders beforehand and not fucking with them later is the only way to get profit.

And coinbase is not an exchange, in case you didn't notice yet. It is a wallet where you can buy coins, but you don't trade there.

It has worked very well for me the past 3 times the market has fallen, I've been within $40-50 of the bottom. If I had bought all the way down, I can guarantee that my average cost per BTC would have been much higher than throwing it all down when the time is right. I do not think coin base is an exchange, I don't day trade Bitcoin. I buy it, hold it until it goes up or I think it is going down soon, sell, rinse and repeat. The fees have been nominal, and I don't trust BTC-e with thousands of dollars to pay 0.8% less in commissions when I buy or sell.